Egypt Stock Market to Open March 1 After One-Month Shutdown
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Egypt’s stock market will resume trading on March 1 after a suspension of more than a month amid a popular revolt that toppled President Hosni Mubarak’s 30-year regime.
Prime Minister Ahmed Shafik replaced the head of the Egyptian Financial Supervisory Authority and approved changes to trading rules aimed at limiting possible losses when the market reopens, the North African country’s Cabinet said in a statement today. Egypt’s benchmark EGX 30 Index of stocks slumped 16 percent in the week that ended Jan. 27, the day it last opened.